you have the problems in europe, and still the fiscal cliff situation to work out combined with the zero interest rate policy on the part of the federal reserve. so, it's going to keep rates low over the medium term, but not the very long term. >> tom: yeah, so the question is in the long term, how long does the premium that you are talking about, in the short term, how ng does that las >> aot of thatas tdo with congress and the administration, whether it's the current obama administration or a new romney administration. we have to get our fiscal house in order, and what that requires is a long term credible plan to cut deficits, the future congresses cannot evade. so, we're going to be coming up to that probably not in the fourth quarter of this year. i think they'll just do a three-month extension, tax cuts and i think in the first quarter of next year, then the shoe is going to kind of hit the road here in terms of what we have to do to get things fixed. >> tom: well, you're in fact on record saying that you think the market will give the government about another four years to get its